Collaboration Opens the Door to Innovative
Private Label Offerings upon Legalization
TORONTO, Sept. 26, 2018 /CNW/ - Newstrike Brands
Ltd. (TSX-V:HIP) ("Newstrike" or the "Company"),
is pleased to announce that its wholly-owned subsidiary, Up
Cannabis Inc. ("Up Cannabis"), has partnered with Green Tank
Technologies as a supplier for vaporization hardware and
technology.
The partnership teams Up Cannabis with an innovative and
cutting-edge vaporization hardware provider, paving the way for Up
Cannabis' private label vape pen consumer offerings upon their
expected legalization in 2019.
"We believe in the synergy that will be created by pairing the
strength of the Up Cannabis brand with Green Tank as a proven
hardware and technology partner," said Jay
Wilgar, CEO of both Newstrike and Up Cannabis. "Our cannabis
oils coupled with their innovative hardware will mean the best of
both worlds for adult-use consumers upon the legalization of
vaporizers. We're excited at the possibilities and are focused on
developing a consumer product offering that will lead the segment,
furthering our strategic plan to create a premier adult-use
cannabis brand."
Up Cannabis and Green Tank will also look to begin collaboration
on the research and development of innovative new vaporization
products. According to BDS Analytics, in recently legalized
adult-use markets like California,
vapes accounted for approximately 25 per cent of cannabis product
sales for the first six months of 2018.1
We're thrilled to be partnered with Up Cannabis to create the
highest quality vape experience for their consumers," said
Corey Koffler, COO of Green Tank
Technologies. "As vaporizer experts, our mission is to craft
premium hardware that powers the brands of our customers by being
specifically engineered to the profiles of their extracts. Up
Cannabis and Green Tank have a shared vision for the vape consumer
offering, which made the decision for the companies to partner very
easy."
________________________
|
1
|
https://bdsanalytics.com/colorado-vs-california-the-tale-of-the-tape/
|
About Newstrike and Up Cannabis
Newstrike is the parent company of Up Cannabis Inc., a licenced
producer of cannabis that is licenced to both cultivate and sell
cannabis in all acceptable forms. Newstrike, through Up Cannabis
and together with select strategic partners, including Canada's iconic musicians The Tragically Hip,
is developing a diverse network of high quality cannabis brands.
For more information, visit http://www.up.ca or
http://www.newstrike.ca
About Green Tank Technologies
Green Tank Technologies designs, develops and manufactures
innovative, high-performance vaporization hardware exclusive to the
cannabis industry. The company is committed to providing licensed
producers and extractors with state-of-the-art vaporization
technology, engineered specifically for each brand's extract
formulations.
Forward-Looking Information
This news release contains
forward-looking statements. Forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Newstrike
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. These forward-looking statements include, but are not
limited to, statements relating to Newstrike's expectations with
respect to the legalization, supply and sales of cannabis and
cannabis vaporizers in Canada. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"estimates", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Accordingly, readers
should not place undue reliance on the forward-looking statements
and information contained in this press release. Since
forward-looking statements and information address future events
and conditions, by their very nature they involve inherent risks
and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. Readers are
cautioned that the foregoing list of factors is not exhaustive. The
forward-looking statements contained in this news release are made
as of the date of this release and, accordingly, are subject to
change after such date.
Newstrike does not assume any obligation to update or revise any
forward-looking statements, whether written or oral, that may be
made from time to time by us or on our behalf, except as required
by applicable law.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Newstrike Brands Ltd.